Indian stocks to watch-Feb 7

Punj Lloyd

07/02/2013 03:08

GLOBAL MARKETS ROUNDUP 
    * Nifty futures on the Singapore Exchange    rose 0.2  
percent. The MSCI-Asia Pacific index, excluding Japan  
   rose 0.3 percent.            
    * Asian shares edged lower ahead of a European Central Bank 
policy decision and remarks from ECB President Mario Draghi on 
prospects for the euro zone economy.    
    * U.S. stocks ended mostly flat on Wednesday, taking another 
pause in the recent rally that has driven the S&P 500    to 
five-year highs, as transportation and technology shares lost 
ground.  
     
    FACTORS TO WATCH 
    * Advance 2012/13 GDP data (0530 GMT) 
    * Last day of two-day Reserve Bank of India board meeting 
    * The Indian government to sell about $2.14 billion worth of 
shares in NTPC Ltd   . The floor price has been set at 
145 rupees, or a 4.5 percent discount to its Wednesday's close. 
   
    * ACC Ltd   , Ambuja Cements Ltd    quarterly 
earnings. 
   
    INDIAN STOCKS TO WATCH 
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NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
     
    FINANCIAL/REGULATORY 
    * Indian tax authorities are claiming the Indian arm of 
Vodafone Group PLC    under-priced shares issued to a 
Mauritius-based group company in order to pay lower taxes, The 
Economic Times reported citing two persons familiar with the 
development as having told the newspaper's TV station ET NOW.  
(Economic Times) 
 
    * India's finance minister warned on Wednesday that cuts in 
the security budget could affect the country's defence 
preparedness and said he will spend more money on security when 
the economy recovers. (Reuters)    
    * The finance ministry is looking at taxing transactions on 
commodity exchanges to provide better regulation and monitoring 
of the market, said finance ministry officials. (Business 
Standard) 
 
    * The Supreme Court said Securities and Exchange Board of 
India was free to seize Sahara Group's assets and freeze its 
bank accounts. (Economic Times) 
 
     
    ENERGY/COMMODITIES  
    * Godrej Industries Ltd's    October-December net 
profit more than doubled to 1.79 billion rupees from 847.3 
million rupees a year earlier. (Reuters)    
    * JSW Steel Ltd    and Jindal Power and Steel have 
secured a key green clearance to mine iron ore and manganese in 
the Saranda Forests located in a Naxal-affected area of 
Jharkhand. (Economic Times) 
 
    * The United States on Wednesday filed a challenge with the 
World Trade Organization over elements of India's national solar 
program, which it said discriminates against foreign solar 
products in violation of a core global trade rule. (Reuters) 
   
    
    INFRASTRUCTURE 
    * The home ministry has barred Adani Ports and Special 
Economic Zone Ltd   , Gammon India Ltd   , Lanco 
Infratech Ltd   , Punj Lloyd Ltd    and IVRCL 
   from participating in three domestic port projects due 
to security issues, a senior official in the shipping ministry 
said. (Economic Times)  
 
 
    AIRLINES 
    * India could be "shut out" of the market for aircraft 
finance if carriers such as troubled Kingfisher Airlines Ltd 
   fail to return planes they cannot pay for, a senior 
banker told Reuters on Wednesday. (Reuters)    
     
    IT 
    * Tech Mahindra Ltd    posted flat earnings for its 
third fiscal quarter, falling short of expectations, hurt by a 
one-off payment at unit Satyam Computer Services Ltd   . 
(Reuters)    
     
    PHARMA 
    * Cipla Ltd    reported a 25.5 percent rise in 
quarterly profit on robust sales but slightly missed street 
estimates as taxes surged. (Reuters)    
     
    PROPERTY 
    * Private equity fund Fidelity India Capital Advisor will 
purchase around 15 percent stake in home furnisher and decorator 
Kurlon for 1.5-2 billion rupees, The Economic Times reported, 
citing two investment bankers with direct knowledge of the 
development. (Economic Times) 
  
 
NOTE: Reuters has not verified third-party stories and does not 
vouch for their accuracy. 
     
     
 
 (Compiled by Manoj Rawal) 
 ((manoj.rawal@thomsonreuters.com)(+91-22 6180-7219)(Reuters 
Messaging: manoj.rawal.thomsonreuters.com@reuters.net)) 
 
Keywords: MARKETS INDIA STOCKS/PRE OPEN